Fitch Rating affirmed Reliance Industries' (RIL) long-term foreign currency issuer default rating at 'BBB-' and LT local currency IDR at 'BBB'. In a statement, the agency said the outlook on the foreign currency issues default rating is stable while the same for local currency IDR is positive
Tag: natural gas
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Oil ministry to demarcate coal bearing seams
The 15 coal bed methane (CBM) blocks, which are part of the 54 blocks that the government identified for auctioning to state-run and private companies, would be demarcated by the oil ministry and given to the coal ministry. It may be recalled that recently, the coal ministry asked the oil ministry to demarcate the coal bearing areas of these CBM mines, relinquish them and hand them
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Corporation may generate gas from waste
Madurai Municipal Corporation proposes to generate natural gas from biodegradable waste available in Tirumangalam, Madurai Flower market and Melur with the help of Bhabha Atomic Research Centre (BARC). Local civic body officials await project report from BARC following which it could implement the plan. Scientists from BARC held discussions with officials and Municipal Commissioners of Melur and Tirumangalam in this r
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Cairn India wants govt to remove discrimination
In a letter to the union oil ministry, P Elango, CEO of Cairn India asked the ministry to do away with the discrimination between NELP and pre-NELP blocks while giving the right of first refusal for shale gas exploration. It may be recalled that the draft policy for exploration of shale gas provides for giving operators of block awarded under New Exploration Policy (NELP) since 2000, the right of first refusal for exploiting the unco
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Govt must take into account key issues in shale gas
As the government is about to announce shale gas policy, experts highlighted some of the issues that must be considered while allowing exploration and production of the fuel. Shale gas and oil are produced from rock formations using "fracking" technology. This injects water and sand at high pressure into wells drilled horiz
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New gas finds may raise output of RIL
Some analysts expect that the new gas finds of Reliance Industries (RIL) in the KG-D6 block may raise the production of natural gas from the asset. RIL has recently announced a major gas find more than 4 km below the sea bed and 2 km directly
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Natural gas output declines
Production of natural gas from domestic assets declined to 118 million standard cubic metre per day (mmscmd) in 2012-13 from 130 mmscmd in the previous year.
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Govt to prepare scheme for piped gas supply
Madhya Pradesh government would prepare a scheme in association with GAIL to start the supply of piped domestic gas to the residents of Bhopal-Mandideep. Recently, the state urban administration and development Minister Babulal Gaur discussed this project with the officials of GAIL. Bhopal city Mayor Krish
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Cairn India expects 215,000 bpd output from Rajasthan block
Cairn India aims to achieve a production level of 200,000-215,000 barrels of oil per day (bpd) during 2013-14 from its Rajasthan block compared to the present production level of 175,000 bpd. The Vedanta group firm has 26 discoveries in the block with an in-place reserve of around 7.3 billion barrels of oil equivalent. The main producing areas in the Rajasthan block are the Mangala, Bhagyam and Aishw
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Net profit of OVL rises 44% in FY13
Net profit of ONGC Videsh rose 44.4 per cent to Rs 3,929 crore during 2012-13 from Rs 2,721 crore in the earlier year owing to higher realisation from natural gas sales. The company currently has 32 projects in 16 countries, of which 11 are producing, five are under deve